Green II, Richard P.
January 2008
USASBE Conference Proceedings;2008, p1
Conference Paper
Case Study
The 74 year old majority owner of Financial Accounting Systems, Inc. (FAS) was trying to develop an exit plan that will allow him to retire. Three primary issues complicated finding a buyer for the firm, (1) the business had a net operating loss carry forward of $106,000, (2) the firm showed an unrealistic book value for internally developed software, and (3) the value of the software is carried on the balance sheet as "inventory," not as a long-term asset.


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